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US sales helps lift 3P Learning profit

Paul Purcell

The United States is set to become one of the main stops on 3P Learning's global excursion as demand for its educational software increases.

The company behind online education tools Mathletics and Reading Eggs added 304,000 American licenses in 2013/14, a jump of more than 80 per cent, taking the regional total to 662,000.

Chief executive Tim Power said while 3P Learning's outlook was excellent across the board, it sold more than 90,000 more licences in the US than originally expected.

"Our product is starting to virally spread into the government school market, outside our initial focus networked around Catholic and charter schools," he said on Tuesday as 3P unveiled its full year earnings results.

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"We've got pockets of schools so we're starting to double down on our sales and start to get more aggressive."

"The outlook is we are set to smash our US forecast by quite some margin."

Product sales across all regions rose 21 per cent in 2013/14, but despite the increase it was still around 50,000 licenses short of expectations.

3P Learning has 4.7 million licenses world wide, with the Australian and New Zealand market accounting for more than half of total sales.

The company reported a statutory net profit of $5.1 million for 2013/14, its first earnings result since its debut on the Australian Securities Exchange in July.